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Finance

Finance

The use of cash as method of payment has been declining in recent years, in favor of digital methods and credit cards. Last month we saw another example in the Hawkers sunglass brand, which will not be accepting cash payments in its new Madrid store.

Garanti Bank won the first prize in 2 different categories in Golden Spider (AltınÖrümcek) Web Awards, where the best Internet and web practices in Turkey are rewarded. Garanti Cep (Garanti Mobile) making things easier for the users with its renewed designand functionality, was selected the “Best Mobile Application” in the category of Banking and Finance whereas the website of Garanti Mortgage, Garantimortgage.com also received the “The Best Website Award” in the same category. Garanti Cep and “garantimortgage.com.tr”also won the people’s favorite award.

The finance industry will survive the disruption in the sector, but only a few banks will be able to offer the best customer experience, adapt to the new ecosystem and successfully achieve their digital transformation. “Competition with the fintech companies makes us better and stronger,” said José Manuel González-Páramo, BBVA’s Executive Member of the Board, Head of Global Economics, Regulation and Public Affairs, during the European Central Bank´s Forum on Banking Supervision.